Donald Trump resigns from board of Trump Entertainment | Business | News.com.au
"overextending and greed. another one bites the dust."
"overextending and greed. another one bites the dust."
AMERICAN tycoon Donald Trump has quit the board of debt-laden Trump Entertainment Resorts as the company he founded faces possible bankruptcy this week.
"I have nothing to do with it. I'm not in it, I'm not on the board," said Mr Trump, who was chairman.
The reality TV star said he had no idea if there would be a bankruptcy filing.
Trump Entertainment faces a February 17 deadline to make a $US53 million ($81 million) bond payment, a target extended four times since the initial grace period ended on December 31.
The company was locked in talks with its debtors on the weekend but if an agreement is not reached, it may file for bankruptcy early this week.
Or the bondholders may force it into involuntary bankruptcy.
Trump, who controls 28 per cent of the stock, said he offered to buy the rest of the company and was turned down by bondholders.
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